what happened
Tesla (Nasdaq: TSLA) Its long awaited Battery Day presentation just five days from now, Sept. 22. Will be held on. With such a close date, you can expect investors to be excited to hear what the world’s most famous electric car manufacturer has to say. But in fact, the opposite seems true.
Tesla shares fell 7.6% in early trading this morning, and by 9:55 a.m. EDT, the stock was down 3.9%.
Image Source: Getty Images.
So what
Probably., Broad-based sell-off in tech stocks this morning (this Nasdaq Was below 1.5%) has something to do with it. But a bad day preview that Bed’s analysts have recently released could also cause investors concern.
In a guessing exercise by StreetInsider.com this morning, Baird predicted that when Tesla pulls the curtain on its Battery Day plans, it could (a) announce a sale at any new cost, (b) a “significant” increase in battery production capacity. Or (c) erda moves in static energy storage management for homeowners and utilities.
Or maybe (d) all of the above.
Now what
Also, the new Tera battery factory in Fremont, California is working on batteries twice the diameter of its current tomato battery cells, and Tesla has a patent application for a new, denser battery. You think any of these developments, along with Baird’s predictions, will excite Tesla investors in part until Battery Day.
The problem is, Byrd himself doesn’t seem to be excited by any of the above. After revealing all the things Tesla could reveal to us next week, the analyst concluded by simply rating the stock neutrally, and with a price target of 2 332, which indicates a 23% negative.
Kiljoy.
